Santander definitely left Transbank. According to credit investment, Kredicorp Capital informed the Spanish capital company that Transbank had promised to sell its entire stake, but Claudio Melandri's company led by Redbanc and Nexus. Responsible for Kredicorp.
What does the bank participate in each of these companies?
With regard to December 2017, Santander was the second largest shareholder in the Transbank, with 24.9% ownership interest, behind 26.15% of Banco de Chile.
In September, Transbank's funds totaled $ 70,954 million, which is why roughly 17,739 million euros would have to be earned on Santander's sales, which was due to be the starting point for the creation of a price.
On the other hand, the Spanish bank debt is the second largest shareholder in Redbance, with a 33.4% stake behind the Bank of Chile's 38%. In Nexus, it is the fourth, 12.9%.
At the same time, Credicorp gave banks a mandate to "use all of their political rights as a shareholder".
"Therefore, from that date, Banco Santander will not participate in the shareholders' meetings and take decisions regarding the shareholders in relation to said companies," he said.
In addition to deciding to renew Transbank's mandate for purchase, it will be the first four-part bank, where the issuer does not have a relationship with subscribers, but only with trademarks cards.
In all, these three companies work together. Nexus is responsible for carrying out transactions authorizations, delivery of accounts, selling of plastics, among other things. On the other hand, he looks at Redbanc's communication network in the country's ATMs.
Santander's decision will be "independence" of Transbank. The offer, for example, is the development of a company that supports the order of money for all entities of interest-free installments. For this reason, the bank has difficulties with offering different services.
That is why Santander's decision could be more competitive, because they are not marketed, because they do not personalize the products and offer other industries.